Answer:
The answer is C.
Explanation:
In a competitive market, all firms produce identical goods and services. No firm or seller can influence the prevailing market price. To increase their revenue, firms must increase their outputs.
In this industry, firms make economic profit(revenue minus accounting cost minus implicit cost) in the short run but this economic profit reduces to zero in the long run because more firms that are attracted by the short run profit can enter the industry freely. Firms can also exit with little or no cost.
Answer:
The equilibrium quantity falls and the effect on the equilibrium wage of radiologists is indeterminate.
Explanation:
Here are the options to this question :
What is likely to happen to the equilibrium wage and quantity of radiologists following these twoevents?
A) The equilibrium wage and the equilibrium quantity of radiologists fall.
B) The equilibrium quantity falls and the effect on the equilibrium wage of radiologists is indeterminate.
C) The equilibrium wage falls and the effect on equilibrium quantity of radiologists isindeterminate.D
) The equilibrium wage and the equilibrium quantity of radiologists rise
As a result of event A, there would be a decrease in the demand for radiologists. As a result, there would be a leftward shift of the demand curve for radiologist. This would lead to a reduction in equilibrium price and quantity
As a result of event B, there would be a decrease in the supply radiologists. As a result, there would be a leftward shift of the supply curve of radiologist. This would lead to a reduction in equilibrium quantity and a rise in equilibrium price.
Taking these two effects together, the equilibrium quantity falls and the effect on the equilibrium wage of radiologists is indeterminate.
Granval thinks a partnership will reduce his personal financial responsibility. this is true only if Granval is not a general partner.
General partnership is a type of business agreement which is made between two or more individuals who agree to share all the assets, profits as well as liabilities of the business.
Because of the simplicity and tax benefits in the general partnership, a general partnership is one of the most common legal business entities.
However, it's very important to consider that each partner is personally responsible for the business, including debts and lawsuits, and is held liable for the actions of their partners.
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Answer:
3,000 cubic feet left of storage.
Explanation:
Giving the following information:
Big shelves (B):
Each big shelf costs $500.
It requires 100 cubic feet of storage space.
Medium shelves (M):
Each medium shelf costs $300
It requires 90 cubic feet of storage space.
The company has $75,000 to invest in shelves.
The warehouse has 18,000 cubic feet available for storage.
Mallory purchase 150 big shelves.
Amount of money= 150* 500= $75,000 (no money left).
Cubic feet= 150* 100= 15,000 cubic feets
3,000 cubic feet left of storage.
Answer:
Income Tax Expense (Dr.) $49,080,000
Deferred Tax Liability (Cr.) $49,080,000
Explanation:
Income tax expense = ( Taxable Income for the year + building and equipment taxable amount + Prepaid Insurance - Liability or contingency Loss ) * Tax rate
Income Tax expense = ( $117,000,000 + $14,700,000 + $2,300,000 - $11,300,000) * 40%
Income Tax expense = $49,080,000
